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Sorry, your blog cannot share posts by email. ExxonMobil Savings Plan Changes.” ExxonMobil Employee Connect, https://hr.na.xom.com/us/benefits-policies/investmentindex#a1399111-ffff-4778-970e-cc8bb06ddd8a. Exxon Mobil, still reeling from massive oil bust, to lay off workers after all, Photo: SAUL LOEB, Contributor / AFP via Getty Images. What’s Your Best Workcell for Cobot Integration? Kahn, Brian. Chevron Corp’s CVX.N planned cuts of 10%-15% would imply a reduction of between 4,500 and 6,750 jobs. It is expected to report a record-setting third straight quarterly loss on Friday, and its third-quarter loss could reach $1.19 billion, according to Refinitiv IBES. “The Retirement/Transition Guide for ExxonMobil Employees.” The Retirement Group, The Retirement Group, 11 Aug. 2020, https://energy.theretirementgroup.com/exxonmobil-educate. Anglo-Dutch group Royal Dutch Shell said last week it would axe 9,000 jobs, more than 10 percent of its workforce, by 2022 to reduce costs. "As we complete the country-by-country reviews, we will announce further reductions," Exxon spokesman Casey Norton said in an email earlier this month. also have outlined up to 15% workforce cuts. According to the statement, “These actions will improve the company’s long-term cost competitiveness and ensure the company manages through the current unprecedented market conditions.’’. Jones, Benji. "This is all in addition to the ongoing work to right-size our business as a result of business-by-business evaluations and the related performance review process. According to Business Insider ExxonMobil released a memo on Monday saying, “Unfortunately, we continue to see prolonged negative market impacts that require us to make further changes so we are best positioned to take advantage of market improvements when they occur.”. The Irving company deferred more than $10 billion of capital spending and slashed 15 percent of its operating expenses to weather the economic downturn. Several employees have speculated that ExxonMobil’s goal is to ship jobs overseas where labor costs are significantly less expensive. Chevron Corp’s. Reporting by Jennifer Hiller in Houston and Arathy S Nair in Bengaluru; Editing by Arun Koyyur and Marguerita Choy. Energy giant Exxon Mobil announced layoffs on Thursday, with most of the job cuts earmarked for its Houston, Texas office. They have also been accused of laying people off through a “Performance Improvement Plan” (PIP). Dangote Refinery debunks online report of death in the refinery, Covid-19: FG to establish indigenous vaccine production company, LinkedIn Profile Optimization – A Step-by-Step Guide to Optimize Your LinkedIn…, Civil unrest: Understanding your comprehensive insurence cover, Get the best of world News delivered to your inbox daily, Business Day, established in 2001, is a daily business newspaper based in Lagos. Since the pandemic broke out nationally in March, oil and gas companies have laid off 47,300 drilling-related workers in Texas, including 12,500 in the Houston region, according to the Texas Alliance of Energy Producers. Ghosh, Palash. Investing in current and future Black-owned suppliers by using Cummins’ industry influence to support their growth and sustainability. The Texas-based oil and gas company said the cuts were necessary to cope with COVID-related losses. “Exxon Is Reportedly Eyeing Layoffs.” Earther, Earther, 1 Sept. 2020, https://earther.gizmodo.com/exxon-is-reportedly-eyeing-layoffs-1844920035.

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